Guideline Value for V.O.C. Street (M.K.B. nagar)

V.O.C. Street (M.K.B. nagar) guideline value

The current guideline value of V.O.C. Street (M.K.B. nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of V.O.C. Street (M.K.B. nagar) has changed

Over the years, the guideline value of V.O.C. Street (M.K.B. nagar) has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure of Rs 1,340 per sq.ft. The value then increased to Rs 2,000 per sq.ft in 2012, before rising to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, placing V.O.C. Street (M.K.B. nagar) below this median.

• V.O.C Street (Venkatapuram): Rs 3,600 per sq.ft (2024)
• Vivek Nagar Varathammal Street: Rs 5,100 per sq.ft (2024)
• Vivek Nagar Ramasamy Mudali Street: Rs 5,100 per sq.ft (2024)
• Vivek Nagar: Rs 5,100 per sq.ft (2024)
• West park Street (Venkatapuram): Rs 5,100 per sq.ft (2024)
• Vinobaji Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. Street (M.K.B. nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C. Street (M.K.B. nagar)?

The Sub Registrar Office that covers V.O.C. Street (M.K.B. nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ambattur

The guideline value plays a crucial role in the registration process of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of V.O.C. Street (M.K.B. nagar)?

The current guideline value of V.O.C. Street (M.K.B. nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017, reflecting a 49% increase to 2023.

What is the land classification for V.O.C. Street (M.K.B. nagar)?

V.O.C. Street (M.K.B. nagar) falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for V.O.C. Street (M.K.B. nagar)?

The Sub Registrar Office for V.O.C. Street (M.K.B. nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.